Sara Trickett - Jun 17, 2024 Form 4 Insider Report for WEX Inc. (WEX)

Role
Chief Legal Officer
Signature
/s/ Timothy Bergeron, as attorney-in-fact for Sara Trickett
Stock symbol
WEX
Transactions as of
Jun 17, 2024
Transactions value $
$0
Form type
4
Date filed
6/20/2024, 06:54 PM
Previous filing
May 3, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction WEX Market Share Units Award $0 +293 $0.00 293 Jun 17, 2024 Common Stock 293 Direct F1, F2
transaction WEX Restricted Stock Units Award $0 +293 $0.00 293 Jun 17, 2024 Common Stock 293 $0.00 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each market share unit (MSU), a form of performance-based restricted stock unit, converts into the number of shares of common stock determined by applying a payout factor to the target number of MSUs vesting on a given date. The payout factor is a ratio of the average of the closing price on the measurement date plus the nine prior trading days divided by the average stock price on the grant date (also a 10-day average) divided by the close price on the grant date. The minimum payout factor that must be achieved to earn a payout is 60% and the maximum payout factor is 200%. The target number of MSUs is reported in this Form 4.
F2 One-third of the MSU award will vest on each of the first, second and third anniversaries of the grant date and will be converted into shares of common stock based on a payout factor, provided that the MSUs will only vest if the payout factor is at least 60%, and if the payout factor is not at least 60% on an applicable vesting date MSUs eligible to vest on that date will be forfeited.
F3 Restricted Stock Units ("RSUs") vest with respect to one-third of these shares on each one year anniversary of this grant.